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Chapter 1

Chapter 1. Define Retailing Various Perspectives Impact Special Characteristics Concept of Strategic Planning Relate Marketing Concept to Retailing Total Retail Experience Customer Service Relationship Retailing.

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Chapter 1

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  1. Chapter 1

  2. Define Retailing • Various Perspectives • Impact • Special Characteristics • Concept of Strategic Planning • Relate Marketing Concept to Retailing • Total Retail Experience • Customer Service • Relationship Retailing

  3. The business activities involved in selling goods and services to consumers for their personal, or household use. It includes every sale of goods and services to the final consumer.

  4. Opportunities • Start New Business • Franchising • Globalization • Challenges • Bored Consumers • Time Poor Society • Too Many Stores • High Consumer Expectations

  5. Tangible Goods • Services • Does NOT Always Include • Store • Retailer

  6. Traditional Retailers • Sales $3 Trillion in U.S • Non-Traditional Retailers • Sales $250 Billion • Other Services • Several Hundred Billion • Major Source of Jobs

  7. Final Consumer Wholesaler Retailer Manufacturer

  8. Divergent Viewpoints • Types of Distribution • Exclusive • Intensive • Selective

  9. Competition in the Marketplace • Product Image • Slotting Allowances • Distribution Rights

  10. Management • Operations • Merchandising

  11. Providing Assortment • Breaking Bulk • Providing Service • Holding Inventory

  12. Manufacturer Brand A Brand A Customers Wholesaler Manufacturer Brand B Brand B Customers Manufacturer Brand C Brand C Customers Retailer Wholesaler Manufacturer Brand D Brand D Customers Manufacturer Brand E Brand E Customers Wholesaler Brand F Customers Manufacturer Brand F

  13. Small Average Sales Impulse Purchases Popularity of Stores Retailer’s Strategy

  14. Define Business Type • Set Objectives • Long-Term • Short-Term • Determine Customer Market • Devise Overall, Long-Run Plan • Implement Integrated Strategy • Evaluate Performance

  15. Retail Strategy Customer Orientation Coordinated Effort Retailing Concept Value-Driven Goal Orientation

  16. Includes all the elements in a retail offering that encourage or inhibit consumers during their contact with a retailer

  17. Intangible • Perishable • Inseparable • Inconsistent • Satisfaction Based on: • Expectation • Past Experience • Perceptions

  18. Total Retail Experience • Monitor Customer Satisfaction • Stay in Touch with Customers

  19. Do We Trust Our Customers? • Do We Stand Behind What We Sell? • Do We Stress Promise-Keeping in Our Firm? • Do We Value Customer Time? • Do We Communicate with Customers Respectfully? • Do We Respect ALL Customers? • Do We Thank Customers for Their Business? • Do We Respect Employees?

  20. The Definition of Retailing • Various Perspectives • Impact • Special Characteristics • Concept of Strategic Planning • How the Marketing Concept Relates to Retailing • Total Retail Experience • Customer Service • Relationship Retailing

  21. Questions? Questions? Questions? Questions? Questions?

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